Integrity.Commitment.Reliability.

Since 1982 | A leading corporate and commercial law firm

ABOUTRAMSAY WEBBER

A leading corporate andcommercial law firm

Founded in 1982, Ramsay Webber is a leading corporate and commercial law firm offering clients personal, highly specialized and innovative legal solutions. The firm has received a number of awards including the Midsized Law Firm of the Year Award, at the Mergers and Acquisitions Awards hosted by Acquisition International and two PMR Diamond Arrow Awards.

As the South African member of Mackrell International, one of the world’s premier networks of independent law firms, we are able to provide our clients with seamless access to legal services both at home and abroad.

FAMILY LAW & ESTATE PLANNING

WHAT’S NEW

Competition is a healthy part of growing business. However, what happens when a merger puts a market at risk by threatening that competition? Ramsay Webber looks at the Act, and how it affects and protects competition.

Before the decision of the Supreme Court of Appeal in Paulsen v Slip Knot Investments (434/13) [2014] ZASCA, there was uncertainty on whether the in duplum rule applied only to default interest, being interest accrued on a capital amount which has fallen due for payment but has not been paid, or whether it also applied to interest accrued on capital which has not yet become payable. The Supreme Court removed this uncertainty by finding that the in duplum rule applies in both cases.

The effect of business rescue proceedings is that a temporary moratorium is placed on the rights of all persons to claim against the company, during which time the affairs of the company are restructured through the development of a business rescue plan the purpose of which is to allow for the continuation of the business on a solvent basis, or where that is not possible, a better outcome for the company’s creditors and shareholders than would otherwise have occurred if the business were liquidated.